(n) Boo Foo is homonymous with BuFu, which means "Butt Fuck." This is a widely preferred practice in the society of male homosexuals. So Butt Fuck buddies (or Boo Foo buddies) like to take turns pounding the shit out of each other.

See also: mud stud

Homo Man 1: Who were those two guys over by the dick dancers that tried to hustle you?

Homo Man 2: Oh, just two Boo Foo buddies I used to trick with. They're both named "Bob."